Virtusa leads a global team that will develop and operate APIX – the world’s first cross-border, open-architecture platform to improve financial inclusion. This is the first of its kind in the world where regulator and industry have come together to set guidance on responsible use of AI and data analytics. The APIX platform aims to improve financial inclusion through FinTech innovation. AFIN set out to achieve this by connecting banks that need Digital Transformation with FinTechs that have built innovative solutions through the APIX platform. APIX provides a platform for financial institutions to discover and connect with multiple innovative FinTech solutions on its marketplace. It also enables financial institutions and FinTechs to collaborate and experiment to design unique solutions using a sandbox environment.
- To give rise to a networked API banking technology marketplace.
- To facilitate easy access for financial institutions to reach a broader range of competitive fintech solutions.
- The APIX platform is an online marketplace in which financial institutions wishing to connect and experiment with fintechs can enable their architects and developers to experiment.
- Sandbox functionality enables testing and development to be conducted efficiently.
- Member financial institutions can efficiently enhance existing or new services that promote financial inclusion and collaboration.
- Provides positive collaboration between financial institutions and fintechs to help improve financial inclusion.